>> yeah, let me mention -- >> in financial history. >> that this is from 30,000 as opposed to 25,000 feet, i guess. but the problem in a developed world basically is that they've assumed too much debt and as studies by rogueoff and lion heart they did a book called "it's different this time." as they pointed out through the past century when debt reaches a 90% level, economic growth slows down by about 1%. we have seen that over the past several years, developed nation growth has slowed from three to two and is that a proble well, yes, it is, because 2% is really the level at which we encounter what is called stall speed. it's basically a level which corporate profits don't grow, at whiccorporations stop investin and unemployment is not reduced and perhaps increases. and so this 2% number where we're at really reflects the tipping point, not just for economies but for financial markets going forward.